Today we are going to analyze a little hiccup that just occurred between Qatar and Saudi Arabia. Everybody knows that the city of Mecca is located in Saudi territory. Furthermore, everybody also knows that all Muslims are mandated to pilgrimage to the Mecca at least once in their lifetime if they are physically and financially capable of so doing. This pilgrimage is called the Hajj and typically occurs approximately between…

Just in time means that we will have to wait until the Free Market produces a solution to the problem and we don't like waiting. Furthermore, we do like certainty, certainty that a Free Market cannot deliver and only governments can. This much is true.

So far we can't see major differences between what governments propose and the products Free Markets plan to offer, cost-wise. This is so because we are only at the initial stages of this process. If we want to understand the full picture, we need to move forward in time and analyze how the proposed solutions behave in real life, but before we do…

Some time ago we published the article The Time Preference Barrier. In it we explained how our desire to satisfy our needs as soon as possible determines, for the most part, when The Three Laws of Political System Changeare triggered. We are now going to apply this analysis to explain how this phenomenon impacts our way towards Libertarianism and Austrian Economics. But first, we need to understand how governments operate in…

This school of economic thought talks about the market structure and how government decisions affect it. The market structure is simply everything logistic that has to happen in order for a company to get itself into business.

This is a topic that springs up into the public life once in a while, like ants after a rain. Flustered socialist (i.e. elected) government officials tell us how the thing (i.e. Net Neutrality) is on the verge of collapsing if we don't "do something about it". How, if we do nothing, corporate hordes will overrun our everyday life and we will forever be subjected to the dictatorship of greed.…

Yes, yes, we know. We have drilled into your head our response. It has to do with standards of living, with the stupidity of governments, with the idiocy of political systems and the inalienable right to be sovereign over our own properties.

And all this is just fine and true.

But why are Libertarians? Because in the end, all those lofty goals are just side effects of one simple human…